Gold price declined Rs 250 to Rs 61,600 per 10 grams in the national capital on Monday amid weak cues in global markets, according to HDFC Securities.
The yellow metal had closed at Rs 61,850 per 10 grams in the previous trade.
Silver also dived Rs 250 to Rs 75,000 per kilogram.
In the overseas markets, gold and silver were trading lower at USD 1,977 per ounce and USD 23.20 per ounce, respectively.
“Gold prices pulled back from a multi-month high as an uptick in US Treasury yields.
“Traders’ focus will remain on ongoing geopolitical unrest and macro data, including the Federal Reserve’s preferred inflation gauge, the US PCE price index, third-quarter GDP data etc, which will provide volatility in gold,” Saumil Gandhi, senior analyst of commodities at HDFC Securities, said.
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